(1)

(2)

(3)

(4)

FE

FE

RE

OLS

govsize

0.783***

0.598***

0.188

0.396**

(0.169)

(0.232)

(0.237)

(0.178)

invest

0.180***

0.181***

0.045

(0.045)

(0.043)

(0.061)

optrade

−0.168

0.010

−0.098

(0.064)

(0.046)

(0.084)

lnlab

−0.250***

−0.210*

−0.110***

(0.046)

(0.035)

(0.072)

N

290

290

290

290

R²

0.141

0.192

0.192

0.327